Jan 23 2009
SCI Engineered Materials, Inc. (SCI) (OTCBB: SCIA), a manufacturer of ceramics and metals for advanced applications in the physical vapor deposition industry, today announced it has entered into a $1 million business loan agreement with a regional commercial bank. These funds will be used to support SCI's working capital needs as the Company continues to implement its growth strategy.
Dan Rooney, Chairman of the Board of Directors, President and Chief Executive Officer, commented, "We are pleased to expand SCI's access to capital, especially in the midst of the challenging economic environment. It complements the Company's capital structure, increases financial flexibility, and reflects our improved financial performance. We continue to pursue opportunities in select markets by leveraging SCI's manufacturing capabilities, developing new products, and expanding our sales and marketing activities in key global markets."
SCI Engineered Materials, Inc. manufactures ceramics and metals for advanced applications such as photonics, thin film solar, thin film batteries, and semiconductors. SCI Engineered Materials is a global materials supplier with clients in more than 40 countries. Additional information is available at http://www.sciengineeredmaterials.com.